JPMorgan Chase & Co. Sells 27,964 Shares of Corcept Therapeutics Incorporated $CORT

JPMorgan Chase & Co. reduced its position in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 9.6% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 262,811 shares of the biotechnology company’s stock after selling 27,964 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.25% of Corcept Therapeutics worth $19,290,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Golden State Wealth Management LLC bought a new stake in shares of Corcept Therapeutics in the second quarter worth about $28,000. Huntington National Bank lifted its holdings in Corcept Therapeutics by 54.0% in the 2nd quarter. Huntington National Bank now owns 479 shares of the biotechnology company’s stock worth $35,000 after buying an additional 168 shares during the period. Brooklyn Investment Group grew its position in shares of Corcept Therapeutics by 99.5% in the 1st quarter. Brooklyn Investment Group now owns 373 shares of the biotechnology company’s stock worth $43,000 after buying an additional 186 shares during the last quarter. USA Financial Formulas purchased a new position in shares of Corcept Therapeutics during the second quarter valued at approximately $56,000. Finally, Farther Finance Advisors LLC raised its holdings in shares of Corcept Therapeutics by 277.6% during the second quarter. Farther Finance Advisors LLC now owns 910 shares of the biotechnology company’s stock valued at $67,000 after acquiring an additional 669 shares in the last quarter. Institutional investors own 93.61% of the company’s stock.

Wall Street Analysts Forecast Growth

CORT has been the topic of several recent analyst reports. Canaccord Genuity Group reiterated a “buy” rating and issued a $140.00 price target on shares of Corcept Therapeutics in a report on Thursday, September 25th. HC Wainwright reaffirmed a “buy” rating and issued a $145.00 target price on shares of Corcept Therapeutics in a research report on Tuesday, November 25th. Wolfe Research initiated coverage on shares of Corcept Therapeutics in a research report on Tuesday, November 18th. They set a “peer perform” rating on the stock. Zacks Research lowered shares of Corcept Therapeutics from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 1st. Finally, Wall Street Zen cut Corcept Therapeutics from a “buy” rating to a “hold” rating in a research report on Saturday, October 18th. Four investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $135.25.

Insider Buying and Selling

In other Corcept Therapeutics news, CEO Joseph K. Belanoff sold 40,000 shares of the business’s stock in a transaction on Monday, December 1st. The stock was sold at an average price of $79.77, for a total value of $3,190,800.00. Following the sale, the chief executive officer directly owned 2,701,370 shares of the company’s stock, valued at approximately $215,488,284.90. The trade was a 1.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Sean Maduck sold 20,000 shares of the stock in a transaction on Monday, December 1st. The stock was sold at an average price of $79.52, for a total value of $1,590,400.00. Following the completion of the sale, the insider directly owned 7,904 shares in the company, valued at approximately $628,526.08. This represents a 71.67% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 263,900 shares of company stock worth $21,161,738. 20.80% of the stock is currently owned by corporate insiders.

Corcept Therapeutics Stock Up 1.2%

Shares of Corcept Therapeutics stock opened at $84.66 on Friday. Corcept Therapeutics Incorporated has a 1 year low of $49.00 and a 1 year high of $117.33. The firm has a market cap of $8.91 billion, a price-to-earnings ratio of 96.21 and a beta of 0.20. The company has a 50-day moving average of $78.23 and a 200 day moving average of $74.39. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.14 and a quick ratio of 3.07.

Corcept Therapeutics (NASDAQ:CORT) last posted its quarterly earnings data on Tuesday, November 4th. The biotechnology company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.02). The business had revenue of $207.64 million for the quarter, compared to the consensus estimate of $223.78 million. Corcept Therapeutics had a return on equity of 15.99% and a net margin of 14.19%.The company’s revenue was up 13.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.41 EPS. As a group, sell-side analysts anticipate that Corcept Therapeutics Incorporated will post 1.36 earnings per share for the current fiscal year.

Corcept Therapeutics Company Profile

Corcept Therapeutics Incorporated engages in discovery and development of drugs for the treatment of severe endocrinologic, oncologic, metabolic, and neurologic disorders in the United States. It offers Korlym tablets medication for the treatment of hyperglycemia secondary to hypercortisolism in adult patients with endogenous cushing's syndrome; and who have type 2 diabetes mellitus or glucose intolerance and have failed surgery or are not candidates for surgery.